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5. TORONTO MARINE HISTORICAL SOCIETY Statement - September Bank B a l a n c e as at 31st A u g u s t , of Income 1, 1989 and Disbursements 31, 1990 $ 7 , 4 5 0 . 20 - August 1989 ................................ INCOME: 1989-1990 (360 @ $ 1 8 . 00) ............... ( F o r e i g n - 1 @ $ 2 8 . 00) .... P r e p a i d M e m b e r s h i p s (18 @ $ 1 8 . 00) .................... Memberships $ 6 , 4 8 0 . 00 2 8 . 00 3 2 4 . 00 T otal M e m b e r s h i p s - $ 6 , 8 3 2 . 00 Ban k I n t e r e s t ........................................... 8 6 1 . 53 U . S. F u n d s P r em i u m , B ac k I s s ue Sales, e t c ......... 3 4 9 . 77 9 0 0 . 00 May D i n n e r M e e t i n g T i c k e t s (45 @ $ 2 0 . 00) ......... $ 8 , 9 4 3 . 30 DISBURSEMENTS: "S c a n n e r " - P r o n t o C o p y c e n t r e s ........ - M i n e t t P h o t o g r a p h i c ....... - P o s t a g e & S u p p l i e s ......... $ 2 , 52 1 . 00 3 , 6 7 4 . 00 2 , 3 8 4 . 71 " S c a n n e r" To tal - $ 8 , 5 7 9 . 71 To r o n t o H i s t o r i c a l B o a r d ................ 2 7 5 . 00 M a y D i n n e r E x p e n s e s - S h i p Inn ......... 8 2 3 . 80 - T i c k e t R e f u n d s ......... 6 0 . 00 $ 9 , 7 3 8 . 51 E x ce s s Bank of I n co m e as o ve r D i s b u r s e m e n t s at 31st A u g u s t , 1990 ................................ ............................... $ ( 7 9 5 . 21) Balance $ 6 , 6 5 4 . 99 6th Sept emb er , 1990, W i l l i a m R. Wilson, Treasurer. * * * Editor's Notes to the F i n a n c i a l Statement: As all readers will readily observe, our disbursements exceeded the Society's income during the 1989-1990 season, d es p i t e the increase in m e m b e r s h i p fe es to $ 1 8 . 00 per annum. We ha d a n t i c i p a t e d that the in cr e a s e w o u l d c ov e r i n f l a t i o n a r y p r e s s u r e s on our v a r i o u s costs, and we ha d tried to h o l d the i n c r e a s e to a m i n i m u m. N e v e r t h e l e s s , a l t h o u g h we d id bene fit fr om i n c r e a s e d b a n k in te re st rates, we w e r e the v i c t i m of the r i s i n g C a n a d i a n d o ll ar (which d e c r e a s e d e x c h a n g e on U . S. c h e q u e s ) , a n o t h e r p o s t a l rate inc rease, and s u b s t a n t i a l i n c r e a s e s in p r i n t i n g c o s t s for " S c a n n e r", its p h o t o p a g e s and covers. We are now investigating possible methods of reducing printing costs without sacrificing the q u a l i t y of our p ub li c a t i o n . We s i n c e r e l y thank those me m b e r s who h e l p e d out by d e l i v e r i n g " S canner" for us, p a r t i c u l a r l y out of Toron to, thus r e d u c i n g p o s t a l costs. In v i e w of the fact that we b e g a n the year w i t h a s u b s t a n t i a l bank b alance, and a l so c o n s i d e r i n g that the S o c i et y 's fu nds are u se d only to pay for the p r o d u c t i o n of " S c a n n e r " an d the h o l d i n g of our m e e t in gs , we felt that we c o ul d get t h r o u g h a n o t h e r y e a r w i t h a def ici t, and thus there has b e e n no fee i n c r e a s e for the 1 9 9 0 - 1 9 9 1 season. We will, of course, have to c o n s i d e r carefully our position at the end of the curre nt year, and it is a c e r t a i n t y that we w i l l h av e to ask the m e m b e r s h i p to ap p r o v e a fee i n cr e a s e at that time. We c o n t i n u e to r e c e i v e P h o t o g r a p h i c , w h o d o es e x c e l l e n t a s s i s t a n c e fr om Basil He a df or d, of M i ne tt the l a y - ou t and p r i n t i n g of our p h o t o p a g e s and who